PENDLE

Alert

Funding spread now, next payment 18:00 UTC−0.2062%/8h

next payment, per $10,000−$2.58paid, last 24h−0.428%paid, last 7 days−0.264%to open and close $10k−$143

Long on Kraken Futures Short on Extended

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.264% in total (about -13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENDLEUSD	2.5634	0.2118	pay 0.0265% / 1h	15m 38s	$156K	$269K	20x
Short	Extended PENDLE-USD	2.5613	0.0056	get 0.0007% / 1h	15m 38s	$168K	$518K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee ExtendedbpOrdersRate

Funding earned: −$432.97
Slippage, 4 orders: −$127.77
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$575.74
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 23 min ago; Extended: live order book, 24 min ago.

Price risk

price view

Price gap now: −0.086%
Avg gap 7d: −0.231%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 23 min ago	5.88 bp	74.7 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 24 min ago	0.98 bp	14.4 bp −$14	130.0 bp −$1,300	doesn't fit	doesn't fit

PENDLE on 29 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.4277%	1h	$2K	$7K	5.5x	as long as short
Variational Omni PENDLE	−0.0200%	8h	$661K	$2.2M	—	as long as short
Aster PENDLEUSDT	−0.0023%	8h	$52K	$133K	10x	as long as short
dYdX PENDLE-USD	0.0000%	1h	$11K	—	5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	0.0000%	1h	$30K	$11K	10x	as long as short
Reya PENDLERUSDPERP	+0.0017%	1h	$4K	—	15x	as long as short
BloFin PENDLE-USDT	+0.0039%	8h	$1.4M	$816K	75x	as long as short
Orderly PERP_PENDLE_USDC	+0.0047%	8h	$20K	$4K	10x	as long as short
Extended PENDLE-USDshort	+0.0056%	1h	$168K	$518K	10x
MEXC PENDLE_USDT	+0.0057%	8h	$17.0M	$2.2M	125x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance PENDLEUSDT	+0.0058%	8h	$28.1M	$35.2M	75x	as long as short
Lighter PENDLE	+0.0096%	1h	$560K	$356K	5x	as long as short
Aevo PENDLE-PERP	+0.0096%	1h	$27K	—	3x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	$36K	$29K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	$12.3M	$5.3M	5x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	$16.0M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	$3.3M	$5.2M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	$822K	$1.1M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	$950K	$566K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	$3.8M	$2.5M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	—	$34.2M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	$25K	$416K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	$78K	$238K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	$16K	$30K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	$2K	$1.6M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0200% / S −0.0272%	1h	$5K	—	100x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0592%	1h	$116K	$439K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.0758%	1h	$377K	$460K	15x	as long as short
Kraken Futures PF_PENDLEUSDlong	+0.2118%	1h	$156K	$269K	20x